v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (11,463,927) $ (9,053,987)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 171,235 100,958
Stock-based compensation 652,746 546,321
Change in fair value of contingent consideration 665,936
Increase (decrease) in cash arising from changes in assets and liabilities:    
Accounts receivable (53,714) 81,185
Prepaid expenses and other current assets (514,265) (1,592,084)
Accounts payable (55,384) 4,179
Deferred revenue (3,735,713) 938,388
Accrued expenses and other liabilities (743,519) (475,350)
Deferred tax liability (665,080)
Deferred financing costs 30,000 (46,340)
Other long term liabilities 27,923 (11,464)
Deposits (29,422)
Net Cash Used in Operating Activities (15,713,184) (9,508,194)
Cash Flows from Investing Activities    
Purchase of Pelican, net of cash acquired (468,801)
Purchase of property and equipment (547,409) (61,382)
Net Cash Used in Investing Activities (547,409) (530,183)
Cash Flows from Financing Activities    
Proceeds from public offering, net of underwriting discounts 20,699,997 4,183,000
Proceeds from the issuance of common stock, net of commissions 3,866,405 2,463,180
Proceeds from exercise of warrants 4,838,593
Stock issuance costs (2,057,872) (239,617)
Net Cash Provided by Financing Activities 27,347,123 6,406,563
Effect of exchange rate changes on cash, cash equivalents and restricted cash 110,430 (21,105)
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash 11,196,960 (3,652,919)
Cash, Cash Equivalents and Restricted Cash - Beginning of Period 9,765,359 7,943,838
Cash, Cash Equivalents and Restricted Cash - End of Period 20,962,319 4,290,919
Supplemental Disclosure for Cash Flow Information    
Issuance of common stock for purchase of Pelican $ 1,052,000

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